Why Globalization Matters

The term “globalization” evokes multiple definitions and opinions. For our purposes, over the coming weeks as we discuss globalization, we will use the definition that the International Monetary Fund uses for “economic globalization.”

“Economic ‘globalization‘ is a historical process, the result of human innovation and technological progress. It refers to the increasing integration of economies around the world, particularly through the movement of goods, services, and capital across borders. The term sometimes also refers to the movement of people (labor) and knowledge (technology) across international borders. There are also broader cultural, political, and environmental dimensions of globalization.”

Globalization suggests that information, knowledge and opportunity are decentralized and shared, such that people who once did not have access to each other now do. Thomas Friedman states it this way.

“[T]he inexorable integration of markets, nation-states, and technologies to a degree never witnessed before-in a way that is enabling individuals, corporations and nation-states to reach around the world farther, faster, deeper and cheaper than ever before . . . . the spread of free-market capitalism to virtually every country in the world ” (Friedman, The Lexus and the Olive Tree, 1999, p. 7-8).

As the marketplace expands, resources and opportunities grow as well. This results in more labor competitiveness and production efficiency. It also increases potential markets for customers and economic gains. Ideally, as globalization accelerates there will be increased opportunities for collaboration between nations, multinational corporations and communities. As new products and services, as well as additional capital are integrated into the social fabric of communities, those communities benefit from the development of better educational and healthcare systems, among other things.

So why the focus on globalization in the BRI blog?

When we first started BioResource International, Inc. in 1999, we intentionally included “international” in the name, with just a vague notion that there would be some sort of international aspect to our business. Fast forward 13 years later and we see “fingerprints” of globalization all over BRI – we have venture investors from Asia, Taiwanese suppliers and a logistics office there. And through our partnership with Novus International, we are starting to see sales growth of Versazyme and Valkerase all over the world. We joke that wherever they grow chickens, that is where BRI wants to be. And since poultry production is a global business, our business has taken us all over the world, from Lima, Peru to Beijing, China and many places in between. So in the next few weeks, we hope to shed some light on this multi-faceted topic and offer some of our personal insights on how globalization has impacted us and how it might impact you as well, if it hasn’t already. As always, we welcome your comments and suggestions throughout this series.

 

Leave a Comment




 

More From the Blog

"Waste Watcher" Mike Williams on...

October 27th, 2011

For this post, BRI interviewed Dr. Mike Williams, Director of the NC State University Animal and Pou[...]

Brazil’s Golden Harvest...

October 27th, 2011

As the US and European economies face an uncertain future, more and more companies in those areas ar[...]

Improving Access to Healthy Food...

January 12th, 2012

When sufficient food is produced to feed the world, why is it that nearly 1-in-7 people still suffer[...]

3 Principles for Entrepreneurial Success...

December 12th, 2011

The end of the year is always a reflective time for me, as it probably is for many of you. As I look[...]

Five Rules of Innovation for...

December 4th, 2011

As I talk with and read about various successful entrepreneurs in biotechnology and in IT/software c[...]

Dr. Sam Pardue on The...

October 27th, 2011

For this post, BRI interviewed Dr. Sam Pardue, head of the Poultry Science Department at NC State Un[...]

Dr. Jim Garlich on Poultry...

October 27th, 2011

For this post BRI interviewed Dr. Jim Garlich, professor emeritus of the NCSU Department of Poultry [...]

BRI Featured in the Triangle...

October 24th, 2011

BRI is featured in the September 16th issue of the Triangle Business Journal. Click here to read the[...]

The Re-emergence of China and...

October 27th, 2011

I am by no means a China expert, but since I started BRI over a decade ago, I have become increasing[...]

What's Next for BRI's Chairman...

October 27th, 2011

BRI interviewed Dr. Jason Shih, BRI Co-founder and Senior Advisor, about what he is most proud of a[...]